Law firm Ince has launched a new product designed to help estate agents onboard clients in a way that it says meets the demands of anti-money laundering (AML) regulations.

Mark Tantam, UK managing partner and global head of consulting at Ince, says that the new onboarding platform, which is yet to be named, is unique in that it is the “first integrated software solution of its kind”.

He commented: “Estate agents can go through all these procedures, and engage with the law firm if there are any problem areas, digitally.

“I’m not saying that estate agents should be engaging purely digitally with their clients, but for some transactions it provides a pretty seamless way to meet their legal requirements.

“People using a tool like this are probably already following the correct AML procedures but this should cut down the cost and allow them to do more in the time available.”

The platform was created by a collaboration between client onboarding specialist eLegal, part of the Ince Group, digital identity platform Yoti, and global AML data provider Arachnys.